Press Releases

China Development Bank briefed on Hengyi’s Refinery Project

Hengyi Industries, Empire Golf & Country Club 12 November 2015. A senior level delegation led by the President Mr Zheng Zhi Jie from China’s Development Bank (CDB) yesterday visited Hengyi Industries Sdn Bhd main office at the Empire Golf & Country Club, Jerudong.

A partnership between Damai Holdings Limited and Hengyi, the Refinery and Aromatics Cracker Plant project will muster in huge investments to a tune of approximately USD4 billion, and will support around 800 jobs with spin-off opportunities in employment and businesses. The project site will occupy an area of approximately 260 hectares on PMB. Currently the main focuses are dredging, backfilling and reclamation activities in and around the island in preparation for the construction. Once complete, the refinery is expected to produce eight million tons of products per year including Aromatics, Gasoline & Diesel, providing enough fuel requirements to meet local demand.

Mr Zheng said “This landmark project signifies the close economic ties between The People’s Republic of China and Brunei Darussalam. This project will hopefully be a catalyst for more Chinese investments into Brunei in the near future. We look forward to its full operation, which will help boost local economy and promote win-win situation for all parties.” On hand to receive the delegation were Mr Chen Lian Cai, CEO of Hengyi Industries Sdn Bhd. Also present during the visit were The Ambassador of The People’s Republic of China to Brunei Darussalam H.E. Ms Yang Jian, senior officials from CDB and the China Embassy together with Hengyi’s senior management. The delegation was briefed on the development of the project by Hengyi’s CEO, Mr Chen Lian Cai.

Mr Chen in his welcoming remarks said “On behalf of Hengyi, we are delighted to welcome Mr Zheng and the delegation to Hengyi’s main office; specifically, we would like to take this opportunity to express our appreciation to Mr Zheng for taking his valuable time out to visit us. Hengyi is in the process of carrying out dredging and reclamation activities in preparation for the construction phase; once this is completed with all the necessary approvals obtained and commercial terms agreed, we can commence the construction activities immediately”

Mr Zheng and the CDB delegation are in the country on a three day working trip for the China ASEAN Inter Bank Consortium Meeting this week.

The visit concluded with a group photograph of the delegation with Hengyi’s senior management team.